Engineers Gate Manager LP Boosts Holdings in Block, Inc. $XYZ

Engineers Gate Manager LP lifted its stake in shares of Block, Inc. (NYSE:XYZ) by 2,575.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 571,414 shares of the technology company’s stock after buying an additional 550,056 shares during the quarter. Block comprises 0.6% of Engineers Gate Manager LP’s portfolio, making the stock its 21st largest position. Engineers Gate Manager LP’s holdings in Block were worth $43,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Raiffeisen Bank International AG lifted its holdings in Block by 0.3% in the second quarter. Raiffeisen Bank International AG now owns 44,901 shares of the technology company’s stock worth $3,503,000 after buying an additional 148 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Block by 33.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 707 shares of the technology company’s stock worth $46,000 after acquiring an additional 179 shares during the period. Avior Wealth Management LLC grew its holdings in shares of Block by 3.3% during the 2nd quarter. Avior Wealth Management LLC now owns 6,081 shares of the technology company’s stock worth $462,000 after acquiring an additional 193 shares during the period. Carson Advisory Inc. raised its position in shares of Block by 2.6% in the 1st quarter. Carson Advisory Inc. now owns 8,035 shares of the technology company’s stock worth $484,000 after acquiring an additional 200 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in shares of Block by 33.3% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 800 shares of the technology company’s stock worth $58,000 after acquiring an additional 200 shares in the last quarter. 70.44% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Brian Grassadonia sold 8,173 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $82.42, for a total transaction of $673,618.66. Following the completion of the sale, the insider owned 513,981 shares of the company’s stock, valued at $42,362,314.02. This trade represents a 1.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Eisen sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $82.51, for a total transaction of $495,060.00. Following the completion of the transaction, the director owned 1,434,672 shares of the company’s stock, valued at approximately $118,374,786.72. The trade was a 0.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 372,006 shares of company stock worth $29,886,161. Corporate insiders own 11.37% of the company’s stock.

Analyst Upgrades and Downgrades

XYZ has been the subject of a number of research analyst reports. Weiss Ratings upgraded Block from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Clear Str raised shares of Block to a “hold” rating in a research report on Thursday, July 16th. Citigroup increased their price target on shares of Block from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Morgan Stanley reissued an “overweight” rating on shares of Block in a research note on Wednesday, August 5th. Finally, KeyCorp raised their target price on shares of Block from $105.00 to $108.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Block presently has an average rating of “Moderate Buy” and a consensus target price of $95.42.

Block Price Performance

XYZ opened at $80.03 on Wednesday. The firm has a market cap of $48.08 billion, a PE ratio of 142.90, a P/E/G ratio of 0.87 and a beta of 2.52. The stock has a 50-day moving average price of $80.53 and a 200-day moving average price of $71.64. Block, Inc. has a 1 year low of $48.21 and a 1 year high of $86.92. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.21 and a quick ratio of 2.21.

Block (NYSE:XYZ) last announced its quarterly earnings data on Wednesday, August 5th. The technology company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.48 by $0.54. The company had revenue of $6.62 billion for the quarter. Block had a net margin of 1.43% and a return on equity of 8.10%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the company posted $0.62 earnings per share. Block has set its FY 2026 guidance at 4.020-4.020 EPS and its Q3 2026 guidance at 1.020-1.020 EPS. Sell-side analysts predict that Block, Inc. will post 2.72 earnings per share for the current fiscal year.

Block Profile

Block, Inc is a financial technology company that develops tools and services for businesses, consumers and artists. The company was formerly known as Square, Inc and operates through a portfolio of brands, including Square, Cash App, Afterpay and TIDAL.

Its Square ecosystem provides businesses with payment processing, point-of-sale hardware and software, invoicing, payroll, inventory management, online commerce and business banking services. Cash App offers consumers peer-to-peer payments, money transfers, a debit card and access to selected financial products.